Petroleum inventories have been dropping sharply and this is giving the industry much hope that things are getting better. Experts say that oil production will not get ramped up for a while, thus inventories should continue to drop. With West Texas Intermediate approaching $70, this is a good time to do those revamps, upgrades, and retrofits. Falling inventories is always a good sign because it indicates that demand is strong. The industry should start seeing some pretty juicy profits in the near future – hope some of that goes back into maintaining the facilities and infrastructure.